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Agent's details

FOR SALE - Run of the Mill, Spar Well Road, Winlaton Mill, Blaydon on Tyne, NE21 6RT

For sale: £770,000.00|9,106 Sq Ft|Leisure Property, Restaurant/Cafes, Mixed Use, Licensed & Leisure, Other Property Types & Opportunities

Property details

FOR SALE£770,000.00
SIZE9,106 Sq Ft
ADDRESSFOR SALE - Run of the Mill, Spar Well Road, Winlaton Mill, Blaydon on Tyne, NE21 6RT
TYPELeisure Property, Restaurant/Cafes, Mixed Use, Licensed & Leisure, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON30th June 2022

Description

The property is a detached building with ample car parking which has been split to provide three distinctive parts let as restaurants, a café lounge and children’s activity centre.

Offers in excess of £770,000 are invited for our client’s freehold interest reflecting a net initial yield of 8.01% increasing to 8.87% in February 2022 and 9.61% in February 2027. The vendor will top the rent up £72,000 pa to provide a NIY of 8.87% from completion of the sale.

Location

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Location: FOR SALE - Run of the Mill, Spar Well Road, Winlaton Mill, Blaydon on Tyne, NE21 6RT

Blaydon (1.2 miles)

MetroCentre (2.2 miles)

Dunston (3.2 miles)

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